Wow Air goes Bankrupt and Cancels all Flights

I never actually flew with them. In fact, an acquaintance did – a New York to Reykjavik flight – and says it was one of the worst flying experiences he’s ever had. We really cannot expect anything else when we pay $99 for an intercontinental flight, probably a little less depending on the offers. And in spite of the company’s impulse and desire to sustain an airline with their level of expenses and escarce profits, it was not possible. So, Wow Air has gone bankrupt and if someone still has tickets for an upcoming trip, that someone is in great trouble because all future flights have been canceled.

That is, perhaps, the biggest problem with low cost airlines. Prolonging the life of a low-cost airline company becomes an almost impossible task, leaving them in the end with two options: either they close the company or they let a larger one to absorb them. Although, there is a third option and that is: to raise their prices (hello, Volaris!), thus stopping them from being a low-cost airline.

The passengers are put in a terrible situation because of the company’s position in regard to refunds. And I quote, Passengers who have paid with a card are advised to contact their bank to get their money back. A little cynicism, a little reality: the airline has no liquidity and a merger agreement with IslandAir that seemed to be going to rescue them was canceled.

This scenario is no little thing for the passengers. Just look at the map below and realize the amount of countries where the airline had been operating. Imagine the big number of leisure and business travelers going back and forth between Europe and North America who will now have, as the same airline says, “to look for other options with other airlines.”

Sometimes good deals are not good after all. If you plan on traveling and you’re going to use a low-cost airline, remember to always check the airline’s financial situation before buying your tickets. Seek not to risk your vacation and your money, remember to check out our list of tips to travel better by entering here.